GoHealth Files for Chapter 11 Under Prepackaged Restructuring Plan

MT Newswires Live06-08 16:22

GoHealth (GOCO) said Sunday that it has filed for Chapter 11 bankruptcy protection in Delaware as part of a prepackaged restructuring plan backed by its lenders and major equity holders.

Under the plan, ownership of the company will transfer to certain lenders, GoHealth said.

Preferred equity will be reinstated, trade creditors and other routine obligations will be paid in full, and common shareholders will receive a cash payment, according to the company.

GoHealth said the plan has the support of all its lenders, more than 60% of its Class A shareholders, and over 99% of holders of interests in GoHealth.

The company said it expects the court-supervised restructuring to proceed quickly and that it will emerge from Chapter 11 before the start of the 2026 annual enrollment period.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment